Description
Added on the 03/11/2020 07:13:59 - Copyright : Wochit
Frankfurt (Germany), Nov 4 (EFE), (Camera: Maximilian von Lachner).- The main European stock markets, which opened down due to the uncertainty surrounding the US elections, have finally went up, except Madrid's.In Asia, Tokyo gained 1.72% and Seoul 0.60%, although Hong Kong dropped by 0.21%.FOOTAGE OF FRANKFURT STOCK EXCHANGE.
While President Donald Trump busies himself with his apoplectic rejection of Joe Biden as president-elect, world leaders have swiftly moved on. In a sign of Biden's legitimacy, leaders of major democracies have stepped up to congratulate the President-elect Joe Biden in recent days. Doubtless salt to his wound, Trump's favorite network--Fox News--and media outlets across the board have also declared Biden the projected winner of the election. Business Insider reports that as a whole, EU leaders and even Israel and Turkey have congratulated Biden. Only Russia's Vladimir Putin, China's Xi Xing Ping, Mexican President Andrés Manuel López Obrador, and Brazil's Jair Bolsonaro have yet to join in.
On Tuesday, U.S. stock futures rose. Dow futures were up 207 points, or nearly 0.8%. The Dow closed Tuesday up 555 points, or 2.1%, higher, its best percentage gain since mid-July. S&P 500 futures climbed 0.7%. The S&P 500 closed 1.8% higher, its best day in a month. Nasdaq futures gained 0.5%. The Nasdaq Composite finished 1.9% higher — its best performance since mid-October. According to CNN investors are hoping for a second government stimulus.
An RBC Capital Markets analyst says that based on recent options trading, the market believes the next US president will be known by November 6th. However, Amy Wu Silverman, RBC's head of derivatives strategy, believes the risk of a contested election is 'severely underpriced' in the stock market. According to Markets Insider, the stock market is eagerly waiting for Congress to pass the next fiscal stimulus package. However, no progress will be made until a clear winner of the election is determined. We in the options market think about tail events, my worry now is that maybe a situation coming up where there is not a clear winner for a while. Amy Wu Silverman, Head of Derivative Strategies RBC Capital Markets A tail event is an unpredictable and rare market outcome that could come as a shock to investors.
French press review on Monday after a night of European election drama: Marine Le Pen's Rassemblement national (RN) came out on top in France, 0.9% ahead of President Emmanuel Macron's Republic on the Move (LREM) party, while Yannick Jadot's environmentalists took a surprising third place. IMAGES
|
Support : Technical 
- Content 
- Editors 
